CENTURY Pacific Food, Inc. (CNPF) has partnered with mobile wallet GCash and non-profit organization HOPE on a project that will plant one million coconut trees in two provinces in Mindanao.
The listed food company said in a stock exchange disclosure on Wednesday that it launched “GForest,” which aims to plant the trees across South Cotabato and Sarangani within two years.
Under the project, users of the GCash mobile application can help the environment by collecting enough green energy to plant virtual trees.
For every virtual tree planted, CNPF, GCash, and HOPE will plant a real coconut tree, which users may select on the application.
“GForest users earn green energy points by using various cashless services of GCash. This marks the first time that a GForest tree-planting initiative will be implemented in Mindanao, helping thousands of farmers in the region,” CNPF said in the disclosure.
According to CNPF, the project will cover areas in Banga, Surallah, Norala, Koronadal, General Santos City, Malungon, Glan, Alabel, Malapatan, Maasim, Kiamba, Maitum, Polomolok, Tampakan, and Tupi.
Noel M. Tempongko, Jr., CNPF Vice President and coconut division general manager, said the project fast-tracks the company’s efforts towards carbon neutrality.
“The program enables us to boost the livelihoods of the coconut farming community in Mindanao and at the same time improve coconut farming productivity and quality of supply, which are all beneficial to our growing coconut business,” Mr. Tempongko said.
Further, CNPF said the GForest program accelerates its initial commitment to provide coconut seedlings and introduces new partners to increase the number of new coconut trees to be planted in Mindanao.
In 2020, CNPF forged a partnership with HOPE to provide coconut farmers with 100,000 coconut seedlings annually for the next five years.
“Through this (GForest) initiative, we are able to reach out to millions of GCash users, encouraging them to preserve the environment while helping to support smallholder farmers,” HOPE Chairperson and President Nanette Medved-Po said.
In the first six months of the year, CNPF posted a 21% increase in its net income to P2.7 billion on the back of strong export sales, favorable tax rates, and resilient local demand. The company’s consolidated revenues also rose 8% to P27 billion.
On Wednesday, shares of CNPF at the stock exchange rose 0.20% or five centavos to end at P25.50 a piece. — Revin Mikhael D. Ochave